Hi all,
I hv just received my PR and I wish to seek advise on the above. I have intention to open a small cake and bread shop in a HDB Food Stall. I would appreciate if anyone could help to direct me to where a I could look for such an outlet around north east of Singapore - Hougang and Sengkang area.
I do not mind other areas as well but to concentrate on area with high human traffic.
Joint venture will be considered.
TQ

willkcwoo wrote:Hi all,I hv just received my PR and I wish to seek advise on the above. I have intention to open a small cake and bread shop in a HDB Food Stall. I would appreciate if anyone could help to direct me to where a I could look for such an outlet around north east of Singapore - Hougang and Sengkang area.I do not mind other areas as well but to concentrate on area with high human traffic.Joint venture will be considered.TQ

Congratulation to get your PR! I myself still also a PR . I think you can find a lot of HDB Food stalls for take over or rental from the local newspaper classifieds section. I am also interested in F&B business kind of "cafe" type. Perhaps, we can pm each other for some ideas or possible joint venture?

Always looking for business opportunity. Do things that of my interests, with passion and conviction.

Be careful out there, learn about the risks of dealing with agents, only deal with registered agents. Some people have leases to locations, who sublet just for a profit, others may take your deposit and run, do your home work very carefully and take note of their Identities, otherwise you may end up signing your life away on a contract, that is not feasible. I know because i deal with these people too, when outsourcing space. "A fool and their money are soon parted" Learn how to assess what is a good location, believe me, it is not only about high traffic... think of the 4 P's.
http://www.netmba.com/marketing/mix/

Work out your break even point and have a proper business plan otherwise you may well be a little to inexperienced to deal with all the problems that may arise from a lack of knowledge.

I have seen several places this week, One with outrageous rents, because a businessman has realised after 4 months, and spending 20k on renovation in the local area, that he cannot sell 300 drinks every day, even in a high traffic area, So he's closed his business and is trying to rent out for double the average cost on a one year lease, So he can recover his own stupid losses.

The rent was 6k a month, he dropped to 4k and i still refused, because i know the area well, some poor sucker will get caught out!

Sharing the cost is also not a good idea, if one is selling products and the other one isn't....if they jump ship, you are left on your backside, if the contract is broken by one party. Be careful!

ksl wrote:Be careful out there, learn about the risks of dealing with agents, only deal with registered agents. Some people have leases to locations, who sublet just for a profit, others may take your deposit and run, do your home work very carefully and take note of their Identities, otherwise you may end up signing your life away on a contract, that is not feasible. I know because i deal with these people too, when outsourcing space. "A fool and their money are soon parted" Learn how to assess what is a good location, believe me, it is not only about high traffic... think of the 4 P's. http://www.netmba.com/marketing/mix/

Work out your break even point and have a proper business plan otherwise you may well be a little to inexperienced to deal with all the problems that may arise from a lack of knowledge.

I have seen several places this week, One with outrageous rents, because a businessman has realised after 4 months, and spending 20k on renovation in the local area, that he cannot sell 300 drinks every day, even in a high traffic area, So he's closed his business and is trying to rent out for double the average cost on a one year lease, So he can recover his own stupid losses.

The rent was 6k a month, he dropped to 4k and i still refused, because i know the area well, some poor sucker will get caught out!

Sharing the cost is also not a good idea, if one is selling products and the other one isn't....if they jump ship, you are left on your backside, if the contract is broken by one party. Be careful!

Thank you for your comments. I am still very open on the whole matter and that is why I wanted more comments and see how it comes about. At the same time, I am also going around hdb estates to check on the market and see it for myself.
Tks again.